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RE: "Cryptocurrency Should Focus Less on Profit" Says Vitalik, and my thoughts on this topic
Good point. Plenty of people are speculating to make money without knowing what they are investing in. Although this does give the funding needed to proceed and gives incentives for big businesses to take notice and get on board.
It is a catch 22 though. Some of us do want to improve society and it does require a lot of funding (trillions). So the idea that we could have the funding come in first isn't always bad but then the risk that maybe you will get funding and it will attract only those who want to make money just to make money without caring about improving anything in society.
I have nothing against Bitconnect for example, because I do know people who get rich off Bitconnect for the most part keep a lot of it in crypto and buy a lot of tokens. Imagine if they all cashed out into fiat and only made Youtube videos? Then Vitalik and even myself would have a reason to become concerned.
As it is right now, the Bitconnect and profit making cryptos are important for driving mainstream adoption around the globe. At the same time we have to solve real problems with the technology beyond just wealth transfer.